Operator

Welcome, everyone to Parade Technologies 2026 Fourth Quarter Webcast Investor Conference. Investor Relations of Parade Technologies, Mr. Yo-Ming Chang, will present 2026 Q1 financial results first. [Operator Instructions] After the presentation, there will be a Q&A session in English by CEO, Dr. Jack Zhao, Vice President of Finance Mr. Kuowei Wu. And we also will reserve the last 15 minutes for attendees who would like to ask questions in Chinese.

[Operator Instructions]

[Foreign Language]

And now I would like to introduce Mr. Yo-Ming Chang, Investor Relations of Parade Technologies. [Foreign Language].

Yo-Ming Chang
Head of Corporate Governance

Welcome, everyone, to Parade Technologies 2026 Q1 Webcast Investor Conference. Parade Technologies first quarter 2026 consolidated revenue was USD 126.14 million, and the net income was USD 16.73 million. It's both basic and a fully diluted after-tax earnings per share were USD 0.21 and USD 0.21, respectively. These results compared to consolidated revenue USD 126.23 million and a net income of USD 20.19 million, or USD 0.25 and USD 0.25 per basic and fully diluted share in the year ago quarter.

In U.S. dollars, the first quarter revenue increased 0.74% sequentially and was down 0.7% year-over-year. The gross profit in the first quarter of 2026 was USD 50.83 million, a decrease of 3.41% from the previous quarter and a decrease of 5.38% compared to the same quarter of last year.

On February